|By Arabian Post Staff|
New York: Demby Coin, the world’s biggest ICO, has debuted at an investor conference in New York, eliciting keen interest from investors looking for alternative investment opportunities. Demby Coin, which will power the world’s first ever all-inclusive marketplace with the combined effect of the likes of Amazone and Ebay, seeks to bring the much-needed liquidity into the crypto currency ecosystem, by enabling purchases of all goods and services using cryptocurrencies.
The Demby market place where all transactions will be carried out through the Demby Coin seeks to tap the $800 billion crypto currency assets, which are now virtually stuck in a system that lacks any kind of liquidity. This has been leading to large-scale holders of crypto currencies to indulge in a ‘pump and dump’ operation, seriously hurting the interest of small holders. The Demby market and the Demby Coin will thus unshackle the real power of crypto currencies, a feature that has led to much excitement in investment circles.
The $150 million DembyCoin ICO is currently in a private sale phase and is expected to open for public subscription shortly.
The Demby marketplaced has been launched by technology entrepreneurs, experts in financial services and managers of leading brands from around the world, who have come together to launch a new global marketplace that will fulfill a long-felt need. The market to be known as Demby will run on the Ethereum powered platform and revolutionise the retail industry, which has so far been slow to adopt the emerging blockchain technology.
With Demby, holders of crypto currencies will be able to buy anything from daily use itmes to high value luxury brands, including gold and diamonds, using cryptocurrencies. As the market reaches its full potential, the demand for Demby Coin is expected to multiply and with limited availability as the total number of coins is fixed, this is expected to lead to an active secondary market for the coin, creating the potential for the intrinsic value of Demby Coin to go up exponentially. Crypto circles are keenly awaiting the launch of the market place as this will introduce a paradigm shift to the digital economy.
Apart from being able to service the $800 billion crypto currency ecosytem, Demby is expected to bring unprecedented levels of transparency and efficiencies in the online retailing industry through the Blockchain technology and Ethereum-powered Smart Contracts. It will effectively address the problem of counterfeits as well as logistics issues such as shipping, wrong deliveries etc. The Smart Contract will automatically trigger a refund in case of any issues with product delivery.
A unique feature of the Demby market is that the goods and services on offer can also be bought using fiat currencies. This is achieved through the market’s inhouse exchange, which will convert the value of the ordered goods into Demby coins, without the need for a third party exchange, which usually makes conversion prohibitively costly. This ensures that merchants who are outside the cryptocurrency ecosystem can also be brought on board.
Also published on Medium.